OMAHA, Neb. (AP) — Berkshire Hathaway Inc. reported a $1.1 billion first-quarter loss as new accounting rules forced it to change the way it accounts for the value of its investments.
Warren Buffett’s conglomerate reported the loss of 46 cents per Class B share on Saturday shortly before its annual meeting in Omaha, Nebraska. A year ago, Berkshire reported $4.06 billion in net income, or $1.65 per Class B share.

Buffett has long said Berkshire’s operating earnings offer a better view of quarterly performance because they exclude investments and derivatives, which can vary widely.
By that measure, Berkshire reported operating earnings of $5.3 billion, or about $2.14 per Class B share. That’s up from $3.6 billion, or about $1.78 per B share, a year ago.

Analysts surveyed by FactSet expected operating earnings of $2.08.

DES MOINES, Iowa (AP) — Iowa lawmakers are working through the weekend in an effort to adjourn the legislative session. Legislators scheduled floor votes Saturday to finalize spending on the roughly $7.4 billion state budget that goes into effect July 1. They’re also set to begin debate on an expansive tax cut bill.

The nonpartisan Legislative Services Agency estimates the tax legislation will cost roughly $362 million over the next two years. If other economic conditions are met, that total would climb to more than $2.1 billion by 2024.

Republicans with control of the Statehouse claim they’ve accounted for that money. Democrats argue the tax bill is irresponsible at a time when lawmakers have reduced spending in other areas of government.

The Iowa Department of Veterans Affairs will host the 11th Annual Vietnam Veterans Recognition Day Ceremony on Monday, May 7, 2018. The ceremony will begin at 11:00 a.m. at the Vietnam Veterans Memorial located south of the Iowa State Capitol building in Des Moines. This year’s 50th Commemorative Ceremony will honor all those who have served in the Vietnam War Era, and especially those who have died as a result of their service. This includes the “hidden casualties of Vietnam” whose names are not eligible for inscription upon the Wall: these casualties are honored by the Memory Plaque, dedicated on the Vietnam Wall grounds.

Vietnam Vets Memorial, IA

Dan Gannon, Chair of the Iowa Commission of Veterans Affairs, will officiate, and John Rowan, Vietnam Veterans of America National President, will be the Honored Keynote Speaker. Governor Kim Reynolds and Lt. Governor Adam Gregg will also be speaking. Disabled American Veterans (DAV) will host a free luncheon following the ceremony at the Community Choice Credit Union Convention Center (Veterans Memorial Auditorium) located at 833 5th Ave, Des Moines 50309. All are welcome to attend. Present and available at this lunch will be Secretary of State Paul Pate’s staff, the VA Regional Office, Central Iowa VA Health Care System – Eligibility and My Healthy Vet, as well as the Daughters of the American Revolution and DAV.

Gannon says “Today, we welcome them all home with honor and gratitude. So now it is critical that we not let this 50th Commemoration slip by without trying to right that wrong of 50 years ago when America neglected to welcome home our millions of warriors.”

A man from Pottawattamie County was arrested late Friday night in Red Oak, following an accident investigation. Red Oak Police says 20-year old Tanner Douglas Mertz, of Council Bluffs, was taken into custody at around 10:55-p.m. for OWI/1st offense. Officials say a 2012 Chevy Malibu driven by Mertz, was traveling north on Sunnyslope Drive, when the vehicle hit a legally parked and unoccupied 2006 Chrysler Town and Country van owned by Allison Ruhl. The collision resulted in about $6,000 damage to each vehicle. No injuries were reported.

Mertz was transported to the Montgomery County Law Enforcement Center and held on a $1,000 bond.

MITCHELLVILLE – Officials with the Iowa Department of Corrections say a staff member was assaulted by an inmate at the Iowa Correctional Institution for Women in Mitchellville, Friday. The incident happened at around 4:30-p.m.  The staff member, a correctional officer, was working at her post in a mental health unit of the facility along with another officer nearby when an inmate began to use verbally abusive language towards the officers.

The inmate was then instructed to return to her cell to de-escalate the situation, but instead unexpectedly rushed towards and began assaulting an officer with a closed-fist strike followed by hair-pulling and briefly wrestling on the ground. The other officer that was present was able to take immediate action to gain control of the attacking inmate, and additional staff were on the scene shortly after.

The staff member that was assaulted was assessed by facility medical staff and found to have no serious medical injuries. The incident remains under investigation.

Red Oak Police said today (Saturday), officers responded Friday to a reported party were minors were present in the 1900 block of Blue Grass Road. Upon investigation, five juveniles were cited into Juvenile Court, for Minor in Possession of Alcohol/1st offense. All juveniles were transported to the Montgomery County Law Enforcement Center, and released to their parents. Red Oak Police were assisted during the incident, by Deputies with the Montgomery County Sheriff’s Office.